Nana, the leading e-grocery delivery platform in the Middle East, which Faith Capital invested in during 2022, has just announced its acquisition of the Rasseed application. This acquisition aligns with Nana’s strategic goal of digitizing the grocery shopping experience while supporting its expansion plan to broaden service offerings and deliver a seamless customer experience.

Commenting on the acquisition, Rasseed’s Founder, Mohamed Alasta, stated: “Joining Nana represents a new beginning for our ambitious vision and marks an important leap in our ability to provide innovative digital services. This supports our commitment to offering the best solutions that meet our customers’ needs, enhance their experience, and increase their enthusiasm for the opportunities this deal will bring.”

Sami Alhelwah, Founder and CEO of Nana, remarked: “The uniqueness of Nana’s business model lies in its flexibility and ability to adapt to modern trends and the rapid developments in the Saudi market. This deal will open up new horizons for us in the digital cards market, one of the most promising and growing markets in the Kingdom, valued at one billion SAR. This investment is crucial for achieving our profitability targets and ensuring sustainability.”

Nana was launched in 2016 by Sami Alhelwah, Abdulmajeed Alsukhan, Ahmad Alsamani, and Bakr Elsherif as the first platform in Saudi Arabia to offer sales and delivery of groceries. Nana’s user-friendly technology allows customers to enjoy a remote shopping experience from the comfort of their homes. The company has established a closed-shop model in Saudi Arabia, enabling customers to receive their deliveries within 15 minutes.

Rasseed focuses on providing software solutions to simplify the purchase of branded and local gift cards in KSA, including telecom, gaming, music, shopping cards, and more through collaborations with over 37 regional and international providers.

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